Ruths House of Hope

Analysis

Ruths House of Hope is a registered charity in United States, based in Faribault, MN. It received its IRS tax-exemption ruling in January 2004, 22 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Ruths House of Hope reported income of $508k and spending of $494k, spending 97% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $552k to $508k (-8.0%), an average of -2.1% a year. The sharpest change came in the year to December 2023, when income rose by 21%. Over the whole period it spent 97% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Ruths House of Hope sits at the 58th percentile: it is larger than about 58% of them. Against every charity in United States with reported income it ranks in the 70th percentile, and in the 70th percentile within MN. Charities of a similar size with the same main cause include Shelton Senior Housing Inc ($508k), Promise Cares ($508k) and Coronel Place Inc ($508k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 61% and program service revenue 6.9% of the total. Compensation of current officers, directors and key employees was $58k (12% of expenses). Other salaries and wages came to $219k. At year end it held assets of $483k against liabilities of $3,145, net assets of $480k. It reported 18 employees.